# Moody’s warning; Covid-19 sends rand plunging - CNBC Africa

> The South African rand fell to its weakest level in about 18 months, trading near 15.63 per dollar, as coronavirus fears drove a global market sell-off. Pressure also came from concern that Moody's could downgrade South Africa's last investment-grade rating and from bond yields rising.

- Date: 2020-02-28 · published 2020-02-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/54866-moody-s-warning-covid-19-sends-rand-plunging-cnbc-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the local cost of imported feed ingredients and inputs for South African buyers, while global risk-off moves can weigh on commodity demand more broadly.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2020/moodys-warning-covid-19-sends-rand-plunging/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.